The current remittance market is fragmented with Western Union and the three other largest MTOs accounting for approximately 25 percent of global remittance volumes. The remaining 75 percent of remittance transactions are processed by thousands of small to mid-size MTOs which are hampered in their ability to scale due to technology constraints including resources and latency, illiquidity, and banks’ increasing reluctance to service smaller MTOs due to compliance overheads. This lack of competition and inability to challenge the large MTOs is directly responsible for the cost of remittances remaining high at around eight percent.

Small to mid-size MTOs need to move into blockchain or face obsolescence.

ZED’s proprietary blockchain technology will address these imbalances and inequities in the Money Transfer Operator (MTO) market. Executed over Stellar to a network of sending and receiving MTOs in multiple worldwide corridors, the ZED platform offers a single point of integration for MTOs for the sending and receiving of remittances including a wallet, web app, mobile app, facility to exchange multiple currency pairs, and a robust back office with suite of analytics and reporting tools for compliance and monitoring.